Brussels bucks trend in fall in bankruptcies
19 April 2005
BRUSSELS – The number of Belgian bankruptcies fell during the first quarter of 2005 over the previous year, it was revealed Tuesday.
In March 2005, 763 companies declared bankruptcy, a drop of 7.6% compared to March 2004 figures, reports the Belga news agency.
A total of 2,094 companies declared bankruptcy in Belgium between January and March of this year. This was a drop of 2.5% compared to the same period in 2004.
Bankruptcies fell by 4.3% in Flanders and 6.6% in Wallonia over the same three-month period.
Bucking the general trend, Brussels reported an 11.2% rise in bankruptcies over last year.
Still, there was an overall 17.4% decline in bankruptcies over the same three-month period for industry.
The contstruction sector remained stable, while bankruptcies fell by 5.4% in the commerce sector.
And the particularly fragile HORECA (hotel, restaurant, catering) sector saw a 3.4% drop in bankruptcies.
Bankruptcies also fell by 3.3% in the transport and other service sectors.
[Copyright Expatica 2005]
Subject : Belgian news